Cowbell is strengthening its focus on cyber insurance for small and medium-sized enterprises (SMEs) by joining the Amazon Web Services (AWS) Cyber Insurance Partner Initiative.
Accordingly, AWS has validated Cowbell’s solution for its ability to streamline the quoting process using thorough cyber risk assessments that use risk signals from AWS Security Hub, according to the company.
Commenting on the partnership, Cowbell CEO and founder Jack Kudale said:
“We are excited to be joining the AWS Cyber Insurance Initiative as a trusted provider of cyber insurance solutions for SME customers. This achievement further validates our expertise in helping businesses effectively manage cyber risks and close the insurability gap. We are committed to serving AWS customers by offering tailored cyber insurance coverage and a wealth of risk management resources to protect their businesses.”
What’s in it for MSSPs, MSPs
Cowbell emphasized that managed security service providers (MSSPs) and managed service providers (MSPs) often understand the importance of cyber insurance for SMEs better than the business owners themselves. As the company told MSSP Alert:
“Providing these organizations access to Cowbell's adaptive cyber insurance product, coupled with Cowbell 365 for a superior risk mitigation and claim experience, positions them to explain the value of cyber insurance beyond the policy and drive customer adoption. Being recognized as an AWS cyber insurance partner further validates the quality of our adaptive cyber insurance programs.”
Despite cyber insurance being the fastest growing line of business in recent history, four out of five SMEs are still uninsured or underinsured for cyber, according to Cowbell. Now, by working with AWS, Cowbell is “extending its reach into cloud-first businesses, working with its appointed broker partners to close the insurability gap and deliver cyber risk transfer tailored to the needs of AWS customers in the SME market.”
Cowbell Explores Partnerships
In April 2023, Cowbell expanded its partnership with Qualys by adding a real-time attack surface intelligence feed from the Qualys External Attack Surface Management (EASM) offering. In doing so, Cowbell is using Qualys EASM to assess customer cyber risk for cyber insurance purposes.
The expanded Qualys partnership comes after Sophos in March 2023 began to allow its customers to share their security health information with Cowbell. As such, Sophos and Cowbell can provide feedback to organizations on how to improve their security practices and risk profile.
